A place to discuss anything related to Canadian finance. No matter what province you're from -- this is the place to get your money organized and well-invested. And of course, stay out of debt! Save your money!

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I'm a dual citizen (Canada/USA). That means I have to file my taxes in the US and Canada. I get a tax credit on my US income taxes for the taxes that I pay in Canada. I haven't utilized TFSA because while it would lower my taxes in Canada, I can't find a legal way of taking it off my taxes in the US. Does anyone have recommendations or experience with this type of situation? I read somewhere that TFSAs are not a good instrument for dual citizens. Also, not willing to renounce my US citizenship just yet. Currently in Ontario.

Has renouncing had any negative repercussions for you? What happens when you cross the border, or fly into the US? Do you get an extra go-over?

I'm up to date on my US taxes, but the tax situation is draconian and thoroughly crappy. And no one will speak up for expats politically -- certainly not the general American public. I don't want to hurt my ability to visit my family in the US, but renunciation is becoming increasingly appealing.